Sean “Diddy” Combs launches “Our Fair Share” to help minority-owned small businesses get access to capital during COVID-19
“I created Our Fair Share to help entrepreneurs play on an even playing field and give them a chance to survive with the hope to thrive,” Combs said.
On Thursday (April 23), REVOLT Media & TV Chairman Sean “Diddy” Combs launched www.OurFairShare.com, which is a brand new platform that’s mission is to assist minority entrepreneurs and small businesses connect to much-needed and hard-to-find capital, while the economy is continuing to be negatively affected by Coronavirus.
The first cycle of Paycheck Protection Program (“PPP) funds disproportionately went to business owners who had the right connections instead of those who were in greater need of the money. Our Fair Share will aid minority-owned companies by educating their leaders about the PPP, as well as help them get connected to approved Small Business Association (SBA) lenders who can then process their applications for these potentially business-saving loans.
“COVID-19 is devastating our communities and without access to stimulus funding, we risk losing critical businesses that create jobs and help build opportunities and wealth in our communities.” said Combs. “I created Our Fair Share to help entrepreneurs play on an even playing field and give them a chance to survive with the hope to thrive.”
The businessman went on to announce a “partnership with the National Bankers Association, the trade group representing minority-owned financial institutions, to connect minority-owned banks and financial technology companies to the Our Fair Share platform and enable these banks to originate PPP loans from applicants that utilize the site,” a press releases reads.
It adds that Combs’ new platform was built to “help ensure diverse small businesses, independent contractors and nonprofits understand that they are eligible and how to apply for PPP…The applications are connected to approved PPP lenders.”
The lead institutions are as followed: The Harbor Bank of Maryland, based in Baltimore, MD; Liberty Bank and Trust, based in New Orleans, LA; Carver State Bank, based in Savannah, GA; and Lendistry, an online small business lender based in Los Angeles, CA.
“It is inspiring to see a cultural icon like Sean Combs partnering with minority banks and others to ensure economic opportunity for minorities in this program,” says Kenneth Kelly, Chairman of the National Bankers Association. “Our leaders in economics, politics, and culture must unite because the COVID-19 healthcare and economic impacts on our communities are interrelated. We can help our communities weather this storm if we work together.”
Combs is also welcoming any and all major financial institutions that would like to partner with Our Fair Share with open arms.
“Minority businesses have always struggled to access the capital they need to thrive. Now is the time to show commitment to the communities being hit the hardest by the COVID-19 pandemic. I look forward to working with the institutions that want to help,” said Combs.
Head to www.OurFairShare.com to learn more.
YOU MIGHT ALSO LIKE
Below, our gift guide highlights some of our favorite Walmart finds for anyone in need of a home refresh.
“REVOLT Black News” correspondent Kennedy Rue counts down the top five moments from the 2023 Billboard Music Awards, including surprising wins, historic firsts, and dope performances. Sponsored by Amazon.
In this new episode of ‘Bet on Black,’ food and beverage take center stage as aspiring Black entrepreneurs from It’s Seasoned, Black Farmer Box, and Moors Brewing Co. present their business ideas to judges with mentorship from Melissa Butler. Watch here!
REVOLT is continuing its impactful partnership with Walmart by teaming up to showcase Black creatives at HBCUs all-across America. The panel consisted of three experienced, accomplished Black HBCU alumni: Actor and media personality Terrence J, entertainment attorney John T. Rose, and actress and “REVOLT Black News” correspondent Kennedy-Rue McCullough.
Take a look inside the Makers Studio presented by Walmart at REVOLT WORLD, a space where Black creators could hone in on their brand and see it come to life.
The health of a community can often be traced to the health of the environment that surrounds it. In Atlanta, a woman named Dr. Jaqueline Echols has dedicated her life to helping ensure that people in economically underserved communities have clean rivers – for better health and for the joy of outdoor recreational space.
Fly Guy DC taps in with REVOLT WORLD attendees to learn what the Opportunity Center, presented by Walmart, means to them and their futures.
In the season finale of “Bet on Black,” special guest judge Ray J joins as the finalists take the main stage to show they have what it takes to win the $200,000 grand prize; Melissa Butler and Eunique Jones Gibson mentor. Presented by Target.
Walmart supports HBCU students and encourages them to be Black & Unlimited. Fly Guy DC talked to a few at REVOLT WORLD about how being an HBCU student has changed their lives.
In this exclusive interview, DDG opens up about his fashion inspiration, what drew him to girlfriend Halle Bailey, dealing with negative opinions about his relationship, and more. Read up!
Here’s a list of rappers who are named after food. Enjoy — or shall we say, “Bon appetit”?
The artist has remained remarkably consistent in her song lyrics about making money, telling off haters and feeling liberated since her debut.
The next time you’re looking for a caption for your perfectly curated Instagram, there’s a 95 percent chance that Drizzy’s got you!